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carbon tax. consumption tax. other ideas outside the box that you think should be part of the conversation. >> i think both a consumption tax and carbon tax have desirable features. it is just the air not likely to happen or the next 36 months. to start with a carbon tax in particular, unless you're going to completely denied the probability that we will face increasing risk from carbon emissions, pressing carbon strikes me as a step to get the behavioral change and the technological innovation we will need to adjust and adapt to what we have already done. a carbon tax also raises re
carbon tax. consumption tax. other ideas outside the box that you think should be part of the conversation. >> i think both a consumption tax and carbon tax have desirable features. it is just the air not likely to happen or the next 36 months. to start with a carbon tax in particular, unless you're going to completely denied the probability that we will face increasing risk from carbon emissions, pressing carbon strikes me as a step to get the behavioral change and the technological...
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Nov 21, 2012
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consumption tax is difficult if you try to do a value added tax. there are things you can do to tweak the income-tax to make it look like a value added tax. >> at the end of the day, what you think the tax code will look like when these conversations between the president and speaker john boehner are done? what will look like when they are done? >> i think we will have slightly higher marginal tax rates on some -- at least one high income tax bracket and i think there will be a variety of tax and exclusions and deductions that are scaled back modestly and that's about it. >> it scaled-back means capt. someone, i agree completely. ." >> i think we will see some of those things rolled back. i think the top rate will be in between 39 and 45%. >> we have some common ground among our economists where we will end up. thank you for joining us and thank you all. i appreciate the pedersen foundation to participate. >> as i have contemplated how the burlington -- the meeting to close, i remember a nobel prize winner at the university of chicago where it was
consumption tax is difficult if you try to do a value added tax. there are things you can do to tweak the income-tax to make it look like a value added tax. >> at the end of the day, what you think the tax code will look like when these conversations between the president and speaker john boehner are done? what will look like when they are done? >> i think we will have slightly higher marginal tax rates on some -- at least one high income tax bracket and i think there will be a...
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it looks like a tax, it acts like a tax, it is a tax and congress can do it. host: next is from maryland on the independent line. caller: good morning, i have a statement and a question. i notice that the perception of black man might be a little old. many of us are manipulated by the media. i know this when i am even watching c-span when i hear individuals with an african- american cadence, these particular callers get screened. you rarely hear an intelligent black male on c-span. host: we get a lot of callers and we want to hear from all callers. did you have a question? caller: what is your plan to advance the black agenda? we know that black america and the inner cities have been neglected more than occasionally, academically and otherwise. what is the prescription to fix that? guest: i'm the wrong one to ask that question. i think there is a need for improvement in education and better funding and better standards. president obama is quite interested in that subject but is not a subject that gets into the courts and gets decided as a legal issue. i don't
it looks like a tax, it acts like a tax, it is a tax and congress can do it. host: next is from maryland on the independent line. caller: good morning, i have a statement and a question. i notice that the perception of black man might be a little old. many of us are manipulated by the media. i know this when i am even watching c-span when i hear individuals with an african- american cadence, these particular callers get screened. you rarely hear an intelligent black male on c-span. host: we get...
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Nov 22, 2012
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it looks like a tax, it acts like a tax, it is a tax and congress can do it. host: next is from maryland on the independent line. caller: good morning, i have a statement and a question. i notice that the perception of black man might be a little old. many of us are manipulated by the media. i know this when i am even watching c-span when i hear individuals with an african- american cadence, these particular callers get screened. you rarely hear an intelligent black male on c-span. host: we get a lot of callers and we want to hear from all callers. did you have a question? caller: what is your plan to advance the black agenda? we know that black america and the inner cities have been neglected more than occasionally, academically and otherwise. what is the prescription to fix that? guest: i'm the wrong one to ask that question. i think there is a need for improvement in education and better funding and better standards. president obama is quite interested in that subject but is not a subject that gets into the courts and gets decided as a legal issue. i don't
it looks like a tax, it acts like a tax, it is a tax and congress can do it. host: next is from maryland on the independent line. caller: good morning, i have a statement and a question. i notice that the perception of black man might be a little old. many of us are manipulated by the media. i know this when i am even watching c-span when i hear individuals with an african- american cadence, these particular callers get screened. you rarely hear an intelligent black male on c-span. host: we get...
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something about taxes -- taxes are extracted. usually paid voluntarily. that is an oversimplification. actually, officials at the irs will tell you well over 90% of individual taxpayers governments necessarily wrong. we all want government voluntarily and responsibly comply with tax laws. there is plenty of tax evasion out there, but most americans fulfill their responsibilities, but taxes are extracted. we have to pay for government. we, in public administration, believe in good government. the problem is, how do we maintain it would we have to criticize it all the time? how do we maintain the good parts of it? the other contribution to the decline in the prestige reagan , even of government included pro-market anti-government. by economists which were very prominent academically. reaganomics was, in a sense, invented on university campuses. the media describe themselves as a watchdog, quite appropriately. it is essential we have an aggressive news media that hold the government and other entities accountable. if they are doing things wrong, we want them
something about taxes -- taxes are extracted. usually paid voluntarily. that is an oversimplification. actually, officials at the irs will tell you well over 90% of individual taxpayers governments necessarily wrong. we all want government voluntarily and responsibly comply with tax laws. there is plenty of tax evasion out there, but most americans fulfill their responsibilities, but taxes are extracted. we have to pay for government. we, in public administration, believe in good government....
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and i think taxes. we had a fight where you had the president advocating to increase taxes on people who made more than $250,000 a year. >> looking ahead at the agenda, how big is climate energy? >> if you look at what to this country needs to do to create jobs, having a sound energy policy makes incredible sense. i think there are it a lot of voters who cared deeply about this. i think a lot of the youth of voters have said repeatedly this is an issue they want addressed moving forward. it needs to be addressed and, from an economic standpoint and for the future of the country. >> you think the president will do something dramatic? >> he has a plan to move forward. >> is the new democratic movement dead or no longer relevant? >> i think that our party has always been the big party and we have different views and that is healthy. that is exactly why i believe i am a democrat. i believe our vision of the country has a lot of people working across party lines and there are folks in our party who all want
and i think taxes. we had a fight where you had the president advocating to increase taxes on people who made more than $250,000 a year. >> looking ahead at the agenda, how big is climate energy? >> if you look at what to this country needs to do to create jobs, having a sound energy policy makes incredible sense. i think there are it a lot of voters who cared deeply about this. i think a lot of the youth of voters have said repeatedly this is an issue they want addressed moving...
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Nov 21, 2012
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and i think taxes. we had a fight where you had the president advocating to increase taxes on people who made more than $250,000 a year. >> looking ahead at the agenda, how big is climate energy? >> if you look at what to this country needs to do to create jobs, having a sound energy policy makes incredible sense. i think there are it a lot of voters who cared deeply about this. i think a lot of the youth of voters have said repeatedly this is an issue they want addressed moving forward. it needs to be addressed and, from an economic standpoint and for the future of the country. >> you think the president will do something dramatic? >> he has a plan to move forward. >> is the new democratic movement dead or no longer relevant? >> i think that our party has always been the big party and we have different views and that is healthy. that is exactly why i believe i am a democrat. i believe our vision of the country has a lot of people working across party lines and there are folks in our party who all want
and i think taxes. we had a fight where you had the president advocating to increase taxes on people who made more than $250,000 a year. >> looking ahead at the agenda, how big is climate energy? >> if you look at what to this country needs to do to create jobs, having a sound energy policy makes incredible sense. i think there are it a lot of voters who cared deeply about this. i think a lot of the youth of voters have said repeatedly this is an issue they want addressed moving...
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tom: raise taxes. it think they have somebody, but the semantics are the speaker is echoing mitt romney's comments about raising revenues. but the union folks are saying, we want to raise tax rates. big difference. >> i don't know if they can get that through. eighty-seven members of congress reelected two years here with a solemn promise that they're not going to vote for any kind of tax increase. get them to vote for some kind of major tax rate increase. a just and see how you can do it >> it's an argument that you would think somebody in the math department would be held to figure out because republicans say the lower raes and revenues go up. we have history to show that. democrats say the opposite. >> and you stimulate your economy. if you raise rates anddon't cut expenditures, what you are doing is making the fiscal problem that much worse. raising rates is aonetime revenue grab. expenditures is a long-term reduction in. and the reality is, wehave to do a lot more of expenditure reduction than we
tom: raise taxes. it think they have somebody, but the semantics are the speaker is echoing mitt romney's comments about raising revenues. but the union folks are saying, we want to raise tax rates. big difference. >> i don't know if they can get that through. eighty-seven members of congress reelected two years here with a solemn promise that they're not going to vote for any kind of tax increase. get them to vote for some kind of major tax rate increase. a just and see how you can do it...
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rates and have not a tax increase. the economy is not any better than two years ago. one of the resting places might be to extend it out six months, a year, two years, four years, and focus on other things because there is not an agreement here. >> but republicans and peakers have already put tax revenue on the table. does that make the pledge not to raise taxes now meaningless? >> what he said was that he supports the idea of revenue have economic growth and tax reform as part of getting revenue for the government. we need to do that. revenue today is at an all-time low because the economy is so bad. we have 10 million fewer people working than if we have a reagan-style recovery. obama's recovery has 10 million unemployed people. more jobs, more people working, more revenue. that is what boehner said a year ago, that he wanted to do in some sort of grand bargain, and that's what he said again. >> but when the speaker came out of the meeting at the white house, he said he was open to doing the tough things, putting mor
rates and have not a tax increase. the economy is not any better than two years ago. one of the resting places might be to extend it out six months, a year, two years, four years, and focus on other things because there is not an agreement here. >> but republicans and peakers have already put tax revenue on the table. does that make the pledge not to raise taxes now meaningless? >> what he said was that he supports the idea of revenue have economic growth and tax reform as part of...
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i just would rather have a consumption tax than a tax on income tax rates. and by the way, i believe the president, his ideas as they're formulating behind a carbon tax, he would rebate, he would charge extra for gasoline -- for oil, natural gas, and other fossil fuels and coal, but then he would rebate the money through the payroll tax to middle class and poor people. that's how he would do it. it's interesting. >> i'm not shocked, right? spread it all around. stuart: exactly. i have to break in for some preaking news. we have been talking about a union protest at chicago's o'hare airport, possibly making air travel is a bit of a hassle today. well, our jeff flock is at o'hare. he tells us flights have been cancelled. 400 delayed because of dense fog until 1:00 p.m. eastern. if you are traveling today, you want to know that. big deal at o'hare. we have hostess back again in liquidation. the union blames poor management. the management blames the union. but up next a guest that blames you the consumer for the company's shutdown. and she's happy about it. she
i just would rather have a consumption tax than a tax on income tax rates. and by the way, i believe the president, his ideas as they're formulating behind a carbon tax, he would rebate, he would charge extra for gasoline -- for oil, natural gas, and other fossil fuels and coal, but then he would rebate the money through the payroll tax to middle class and poor people. that's how he would do it. it's interesting. >> i'm not shocked, right? spread it all around. stuart: exactly. i have to...
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tax hikes are not income tax hikes, they are taxes on investment. the taxes are dramatic and will dramatically change how people think about investing but it does not seem to me like anybody is really thinking about it yet. >> i have been surprised at ho slow this has dawned on the market. now they seem more focused, but i think missing the fact is they have targeted vestment, 3.8% investnt inco, there are potential for higher income taxes anthose tax hikes are layered on top of the peer financial market effects. we did not have the 2008, this is a very dangerous combination. they'r really out of luck. gerri: talk about recession. you also have to talk about what ppens to the average american psyche if the they're faced with increasing income taxes dramatically so. these are taxes across the board, and investing in texas, where is incentive to work, where is the incentive to invest, get up off the couch? speak of these are dramatically antigrowth policies at a ti when growth has to be at a premium,e are going exactly wrong direction. the really frig
tax hikes are not income tax hikes, they are taxes on investment. the taxes are dramatic and will dramatically change how people think about investing but it does not seem to me like anybody is really thinking about it yet. >> i have been surprised at ho slow this has dawned on the market. now they seem more focused, but i think missing the fact is they have targeted vestment, 3.8% investnt inco, there are potential for higher income taxes anthose tax hikes are layered on top of the peer...
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those tax cuts. when you look at the oil subsidies that oil companies received, there are many ways to move forward and stop this human cliff from occurring, but we do not need to go with seniors, we do not need to do this on the the backs of low-income individuals and the poor. it doesn't make any sense. it's not fair and it's morally wrong. >> i think it's morally wrong and it's not fair. there is a moral obligation to help the poor and those trying to recycle back into the economy. but do you feel confident that the democrats will hold the line for the less fortunate? >> i feel very confident the democrats will hold the line for the least fortunate. when you look at what's happening in our districts, we have people who are unemployed. we have the long-term unemployed. and we have people who want to work. we need to create jobs and invest or resources in job creation. that's how you we turn the economy around and reduce the deficit. >> congresswoman barbara lee, thank you for joining us. >>> allen
those tax cuts. when you look at the oil subsidies that oil companies received, there are many ways to move forward and stop this human cliff from occurring, but we do not need to go with seniors, we do not need to do this on the the backs of low-income individuals and the poor. it doesn't make any sense. it's not fair and it's morally wrong. >> i think it's morally wrong and it's not fair. there is a moral obligation to help the poor and those trying to recycle back into the economy. but...
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and a tax on dividend income. gerri: that will have a big impact. >> that is why the stock market has reacted. the cost of capital will be significantly higher, but in 2014 you will start to see their real bulk, the 1 tillion in taxes, the bulk of that will be in 2014, the spending will start to kick in as well. 2014 is the big year. gerri: we start to seeit. we have seen a little it all along. we saw keeping your kids and your insurance polcy for longer, all that kind of stuff that people really like it happened earlier, but now we're getting to the nitty gritty. now it's the taxes. even now, people don't like the law. if you look at exit polling on obamacare from the election just last week, the majority of people want obamacare either repeal or rollback. the question is, of course, the president won the election. had you do that? >> there is not a way to repeal a law, even if romney hadone, republicans lost two seats in the senate. there's only so much you can do if you have control of congress. you can do some
and a tax on dividend income. gerri: that will have a big impact. >> that is why the stock market has reacted. the cost of capital will be significantly higher, but in 2014 you will start to see their real bulk, the 1 tillion in taxes, the bulk of that will be in 2014, the spending will start to kick in as well. 2014 is the big year. gerri: we start to seeit. we have seen a little it all along. we saw keeping your kids and your insurance polcy for longer, all that kind of stuff that...
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no change in tax rates. so it is not a flat tax reform but no increase in marginal tax rates. can you and your pledge, with the pledge be okay with the bay nor plan to increase revenues by capping deductions? he has not endorsed raising taxes nor did he a year ago. if you eliminate deductions now, you have destroyed the opportunity for tarx reform a year ago. they are not available to reduce tax rates. >> so you are opposed to it. it is bad for the economy and it destroyed our effort to get tax reform down the road. >> i have talked to staff and remembers and they don't need to hear it from me, they know that lower marginal tax rates are necessary for growth and the only way to get the revenue to pay down obama's debt. >> help me out, in effect, is the plan to put a cap on deductions, does his plan break the americans for tax reform no-tax pledge? >> to be clear. john boehner has not said that. he says he is for revenues from growth. i'm for that. that is a tax increase that is what obama wants and it does affect the margin because they are going to attack certain income group
no change in tax rates. so it is not a flat tax reform but no increase in marginal tax rates. can you and your pledge, with the pledge be okay with the bay nor plan to increase revenues by capping deductions? he has not endorsed raising taxes nor did he a year ago. if you eliminate deductions now, you have destroyed the opportunity for tarx reform a year ago. they are not available to reduce tax rates. >> so you are opposed to it. it is bad for the economy and it destroyed our effort to...
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sales taxes are up. most americans are paying more in taxes than ever before. at the same time wealthy americans are paying less than ever before. this is an appropriate move. >> we'll be talking more about social security taxes and also goldman sachs. you'll enjoy that, robert. but neera, you know the hill better than anyone. will they get this done by the end of the year? or are there sticking points we're not seeing? >> this is the most optimistic i have ever been. and you know, that's not saying a lot sometimes because this whole debate around the budget has been like losing the football for awhile. but i actually think that you're seeing republicans moving in a way that they obviously didn't do, and you're seeing an understanding -- what i think is really important is there are a lot of people like bill crystal coming forward, governors are trying to make a play here. they represent whole states as well. so i think you're seeing a kind of break in this impass or fever that we haven't seen in the past. as you said, there's reasonable common ground to make i
sales taxes are up. most americans are paying more in taxes than ever before. at the same time wealthy americans are paying less than ever before. this is an appropriate move. >> we'll be talking more about social security taxes and also goldman sachs. you'll enjoy that, robert. but neera, you know the hill better than anyone. will they get this done by the end of the year? or are there sticking points we're not seeing? >> this is the most optimistic i have ever been. and you know,...
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just talk about taxes. the objective of holding the line or lowering taxes is ultimately supposed to contain or reduce the size of the government. do you feel closer or further from that goal today? >> much closer. one is the tea party and the other is the right and budget. up until the tea party, i would have been here and told you obama is going to spend too much money and you can't get the american people upset about spending too much. you have to wait until it becomes a tax increase that's why the protection pledge was i think the best defense against the government. the same misreading of his mandate that he's doing now so when some of us suggested the misreading of the mandate he did it for years ago. he threw away the approval rating to spend the stimulus package written on all this other stuff, massive debt and spending and you had a million people go to the streets around august, april 15th. he had only just showed up and started spending crazily. tarp ii me and you then have a reaction from the mo
just talk about taxes. the objective of holding the line or lowering taxes is ultimately supposed to contain or reduce the size of the government. do you feel closer or further from that goal today? >> much closer. one is the tea party and the other is the right and budget. up until the tea party, i would have been here and told you obama is going to spend too much money and you can't get the american people upset about spending too much. you have to wait until it becomes a tax increase...
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the tax fight gets shorthanded as raising taxes on rich people. but the first $250,000 of income will be taxed the same as it is now. it stays the same. no additional taxes. no matter how much additional money you make beyond that fresh hold. you may pay a higher rate over $250,000, but purposely reducing your income to under a dollar, is hilarious. so consider had a public service announcement to people of means. or if you prefer, to moneyed americans. if somebody tries to reduce you to reducing your income on purpose to $249,999.99, if somebody tries to talk you into doing that, they are teasing you. it's a hoax to tease you for not understanding math and how taxes work. if you're not a person of money but you know such a person fallen into this trap, it's your choice to leave them floundering for your amusement while they purposely reduce their income to no rational effect. or you can do the right thing and help them understand how marginal tax rates work. class warfare is just a >>> a few months after president obama was inaugurated in 2009, t
the tax fight gets shorthanded as raising taxes on rich people. but the first $250,000 of income will be taxed the same as it is now. it stays the same. no additional taxes. no matter how much additional money you make beyond that fresh hold. you may pay a higher rate over $250,000, but purposely reducing your income to under a dollar, is hilarious. so consider had a public service announcement to people of means. or if you prefer, to moneyed americans. if somebody tries to reduce you to...
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scaring the public about taxes. making the case that taxes are always bad. but the fact of the matter is and everybody knows it. we have a big budget deficit out there. somebody has got to pay more taxes and some spending has got to be cut. if it's not the wealthy paying more taxes and these are wealthy, remember, who in living memory have never taken home a larger share of total income and wealth in living memory, have never paid an effective tax rate that's as on their breath and income, these are the wealthy who are putting over something on everybody else. if they don't pay more, everybody else has to pay more. >> eliot: somebody's gotta pay it. i think the affirmative shift here is that the deal that the president offered last summer that was rejected by speaker boehner had a ratio of 10-1 cuts to revenue. the republicans said no way. we're not doing that. now we're essentially talking about something that's 2-1 and the republicans are acknowledging the revenue has to be raised. that's a sea change. >> that's progress. progress comes directly out of som
scaring the public about taxes. making the case that taxes are always bad. but the fact of the matter is and everybody knows it. we have a big budget deficit out there. somebody has got to pay more taxes and some spending has got to be cut. if it's not the wealthy paying more taxes and these are wealthy, remember, who in living memory have never taken home a larger share of total income and wealth in living memory, have never paid an effective tax rate that's as on their breath and income,...
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rate for corporations and we have the lowest of the second lowest tax rate factor tax rate for the top one percent you get people like mitt romney who are paying fifteen percent in income taxes you know no but you know again that's unfair because i strive america to raise more than that and he was giving flu. percent of his income to charities. and that makes up for it therefore we shouldn't charge him taxes come on we look at that capital gains is much different than ordinary and if we want to put yeah you have to work to get it just so at lunch we have to make it we have to make it competitive for people to learn to invest but you people are not going to invest with all of this uncertainty in with the growing hostility of the business the certain affairs government wants to kill people like ok neal. you know i hope you're well defended if the government's going to get you thanks a lot for being with us they think we're having you can talk. now on to some health care and it is residents of cook county illinois are about to see some significant new benefits thanks to president obama an
rate for corporations and we have the lowest of the second lowest tax rate factor tax rate for the top one percent you get people like mitt romney who are paying fifteen percent in income taxes you know no but you know again that's unfair because i strive america to raise more than that and he was giving flu. percent of his income to charities. and that makes up for it therefore we shouldn't charge him taxes come on we look at that capital gains is much different than ordinary and if we want to...
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if you tax everybody that obama is talking about taxing, the most you could cut off the deficit is 5%, something insanely small. that will not do anything. the message has to be to cut spending and until that resonates with americans, have to realize the economy will keep declining. melissa: ho huggies is a spendig problem, not a revenue problem? >> the left is always going to try to appeal to the low information voter. so we have to take information, make it really simple, on complicated and communicated in a narrative that can be marketed to the masses of people. if you take the tax increases of those making over $250,000 per year, it is a drop in the bucket. 56 b of money we're talking about reducing the deficit to something like 1.15 trillion bit of 1.2 trillion. we have to communicate that we have to keep sticking it to them to say that debt is on our children and future and some point the grim reaper will take it back so we have some point when people are hurting bad enough realizing obama has not come in and saved us yet, maybe then they will start listening. >> thank you. meli
if you tax everybody that obama is talking about taxing, the most you could cut off the deficit is 5%, something insanely small. that will not do anything. the message has to be to cut spending and until that resonates with americans, have to realize the economy will keep declining. melissa: ho huggies is a spendig problem, not a revenue problem? >> the left is always going to try to appeal to the low information voter. so we have to take information, make it really simple, on complicated...
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. >> the first of my constituency, tax due on time. revenue of four billion pounds and last year less than 1 million pounds in patents. the government has issued a claim for unpaid taxes, will he allow us to draw the wrong conclusion about whose ideas on? >> the hon. gentleman makes an important point about making sure companies make their contributions and fair tax payments and our country. we put 900 lbs. specifically into revenue to make sure we do properly get individuals to pay their taxes and yesterday i announced one of the key priorities of the g-8 which i will be sharing, in northern ireland in june of next year. and get proper international agreement paying taxes properly. >> to my right hon. friend, a preschool opening next year. one of a most deprived to provide a letter for social mobility for young people. a great tangible assets but what the government is doing in terms of education. >> very kind invitation for my hon. friend. and all of the 78 preschools that have been established over the last two years making good pro
. >> the first of my constituency, tax due on time. revenue of four billion pounds and last year less than 1 million pounds in patents. the government has issued a claim for unpaid taxes, will he allow us to draw the wrong conclusion about whose ideas on? >> the hon. gentleman makes an important point about making sure companies make their contributions and fair tax payments and our country. we put 900 lbs. specifically into revenue to make sure we do properly get individuals to pay...
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their staking to their attitude, taxes, the works. the people who hate to lose are blaming the right. the people who hate the center almost just as much as the left are saying they're right and they're going to not budge an inch. this looks like a fight with legs and not a bad spectator sport for progressives as that pony yan once said, never interrupt your enemy when he's making a mistake. robert trainer and erin pikz. this should be an interesting match-up, you two. let's talk about this situation. i want to show you a tape from deny senior on "morning joe," a foreign adviser to mitt romney. he took on mitt romney critics have been filing on him. >> tens of thousands of people, you could hear the top ten surrogates at the event. i'm backstage with some of them, i won't mention their names but talking about romney like he's reagan. you know, the debate performances were the best debate performance of any republican nominee in presidential history. this guy was iconic. they were talking about him, because they believed he was going to
their staking to their attitude, taxes, the works. the people who hate to lose are blaming the right. the people who hate the center almost just as much as the left are saying they're right and they're going to not budge an inch. this looks like a fight with legs and not a bad spectator sport for progressives as that pony yan once said, never interrupt your enemy when he's making a mistake. robert trainer and erin pikz. this should be an interesting match-up, you two. let's talk about this...
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Nov 21, 2012
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cuts but the alternative minimum tax, talking about payroll taxes. we're talking with about the fix. so there are several things that would hit taxpayers. what the president has proposed and what i support is reducing taxes on 98% of the u.s. public and that is reducing taxes -- or keeping the tax cut in place for those who make less than $250,000. you know and i know that what tends to happen in these situations is at the last minute things get resolved. i don't think they will be resolved as big as tax reform, but i do believe we will resolve it and will not have to result in the united states going over the fiscal cliff. i think it would send a very dangerous significaal around th world, but it would also compromise our economy. >> and, quickly, there's a lot of speculation about what type of deal, what the deal will actually look like, talks perhaps coming to an agreement to have a mechanism in place that would have sizable deficit reduction and have sizable entitlement reform in 2013, a little bit now, a lot later. do you think it's possible in
cuts but the alternative minimum tax, talking about payroll taxes. we're talking with about the fix. so there are several things that would hit taxpayers. what the president has proposed and what i support is reducing taxes on 98% of the u.s. public and that is reducing taxes -- or keeping the tax cut in place for those who make less than $250,000. you know and i know that what tends to happen in these situations is at the last minute things get resolved. i don't think they will be resolved as...
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Nov 21, 2012
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i think also everyone knows taxes are unfortunately -- taxes are going to go up. i don't know it's going to be at the 250 level. maybe at the 500 or million-dollar level. but taxes are going to go up and expenses are going to get cut. so we all wish they would stop the jawboning and positioning and politicking, sit in a room with dulls, both give in a little bit and move on. but they're going to push and push and push and the markets will push a deal to get it done. >> so if you were trying to decide what to do, would you just stand pat with equities? what would you do? >> you know, we've had to sell off, and for a lot of people that was a good thing. we got down to the 1340 level, which was an interesting level to hold. but a lot of people, as we've talked about over the last three or four months, were on the sidelines and missed. this so they'll have to start grabbing some stocks. they've gotten the break that they needed to at least get into this game. but this is a very interesting game that's going on. yesterday, i thought there was an interesting article. da
i think also everyone knows taxes are unfortunately -- taxes are going to go up. i don't know it's going to be at the 250 level. maybe at the 500 or million-dollar level. but taxes are going to go up and expenses are going to get cut. so we all wish they would stop the jawboning and positioning and politicking, sit in a room with dulls, both give in a little bit and move on. but they're going to push and push and push and the markets will push a deal to get it done. >> so if you were...
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Nov 21, 2012
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and let taxes go up. does the many stream media after it right? grover norquist says absolutely not. i hear a lot, a lot, rumors that speaker boehner may be interested in cutting a deal to raise taxes as part of deal. are you hearing the same? >>guest: we heard that for a year in 2011 and it was not true. there are people who are hoping that the republican party will raise taxes to pay for obama's larger government. obama would like that to happen. the republicans won the house of representatives campaigning on a commitment to the ryan plan which reduces spending, reforms entitlements, and reforms taxes down, not up. so, obama got himself re-elected less strongly than four years ago and the republican house got itself re-elected? >>eric: what happens if republicans do cave and do sign on to higher taxes, what will you do? >>guest: well, the question is what the american people do if they see the republicans and democrats agreeing to raise taxes to pay if oh bum's bigger government then the republicans would be co-owners of what will be, unfortunat
and let taxes go up. does the many stream media after it right? grover norquist says absolutely not. i hear a lot, a lot, rumors that speaker boehner may be interested in cutting a deal to raise taxes as part of deal. are you hearing the same? >>guest: we heard that for a year in 2011 and it was not true. there are people who are hoping that the republican party will raise taxes to pay for obama's larger government. obama would like that to happen. the republicans won the house of...
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Nov 21, 2012
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tax reform this. tax implications of the. reduce taxes fine, but no net tax increases. and most republicans in the house and the senate made that commitment, a handful of democrats, about 1300 state legislators, 13 governors, a lot of people chosen to make that commitment to their constituents. everyone's want to become it's to grover, could you tell some of its okay for them to break their word to the constituents? no. i'm not actually in this equation. is a commitments they made to their own voters when the guy elected that they would not support tax increases. they say when i go to washington for not raising taxes. i'm going to reform government so costs less. windows above uncle and reform government. i'm not going to say there's a problem, everybody sending more money to pay for whatever from an continue to do everything we been doing for the last 50 or 70 years on something. when george herbert walker bush campaign with a promise not to raise taxes and then turned around and raise taxes, in return for promises of spending cuts, it didn't happen. the american peopl
tax reform this. tax implications of the. reduce taxes fine, but no net tax increases. and most republicans in the house and the senate made that commitment, a handful of democrats, about 1300 state legislators, 13 governors, a lot of people chosen to make that commitment to their constituents. everyone's want to become it's to grover, could you tell some of its okay for them to break their word to the constituents? no. i'm not actually in this equation. is a commitments they made to their own...
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Nov 21, 2012
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up so they can all go and campaign and to rush limbaugh i voted for a tax cut, not a tax rise. it just so happened that taxes went up at the same time. >> let me ask ben this. you spent a lot of time looking at the sort of texture of the political boundaries on these parties, right. and -- >> is this a thanksgiving metaphor? >> it is. it's a stuffing metaphor. richard's talking about what would strike most political observers as a gimmick. wait a week and don't get to call it a hike. there's a movement we've talked about on "now" before, that says that grover norquist is yesterday's it news, he's out of date and you had some house republicans say they're willing to break with him without a gimmick. do you think there's any districts where republicans can actually benefit by saying, i'm going to do something bigger than grover norquist? my boss is the constituents and not these washington insiders? >> no. i don't think anybody -- i don't think grover norquist is a household name but a lot of these guys signed a pledge they would not raise taxes and then these sort of trap of tha
up so they can all go and campaign and to rush limbaugh i voted for a tax cut, not a tax rise. it just so happened that taxes went up at the same time. >> let me ask ben this. you spent a lot of time looking at the sort of texture of the political boundaries on these parties, right. and -- >> is this a thanksgiving metaphor? >> it is. it's a stuffing metaphor. richard's talking about what would strike most political observers as a gimmick. wait a week and don't get to call it...
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Nov 21, 2012
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if you think about incentives for investment in new technologies, the tax credit, tax credit for solar and wind power. some of that is actually helpful. >> you're being far too reasonable. far too reasonable. >> now, some -- wait a second. let me get -- i don't know if it's unreasonable but let me tell you what i was about to say. if you think about oil and gas subsidie subsidies, if you think about all the profits, and this is the big money stuff that are deferred, held overseas, if you think about the ability of private equity funds to deduct interest payments on their debt finance deals, all of that is corporate welfare. so you know, there's balance here to be seen. >> now, joy, i mean, you know -- i told joy earlier, speaker boehner is tripping. he writes that the tactics are -- >> i agree. >> -- repeal efforts have to change. are you kidding me? three times they've been defeated on this. what has to change is their attitude on this. >> oh, is john boehner going to be pissed when he finds out mitt romney lost the election. if they let him out of that time machine, he might be somet
if you think about incentives for investment in new technologies, the tax credit, tax credit for solar and wind power. some of that is actually helpful. >> you're being far too reasonable. far too reasonable. >> now, some -- wait a second. let me get -- i don't know if it's unreasonable but let me tell you what i was about to say. if you think about oil and gas subsidie subsidies, if you think about all the profits, and this is the big money stuff that are deferred, held overseas,...
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Nov 21, 2012
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what i tell you, that's the group you want, but you have to tax your tax professional about mlps and real estate investment trusts before you choose them otherwise go with the plain utilities and higher yielding telcos. beyond that, use the same metrics. looking for high yields. dividends has to be safe. the company better have enough earnings to cover the payout. we like companies with a consistent record of raising their dividends. that's great for capital gains that are tax-protected. the bottom line, a huge part of long-term investing is retirement investing. and the best way to prepare for your retirement is putting money in a tax favored vehicle like an i.r.a. and investing it in high yielding dividend stocks. the gel is to reinvest your dividends and let them compound year after year after year without paying any taxes until you withdraw your money at the very end. that's a terrific recipe for producing huge long-term returns. david in california, david? >> caller: hi, jim. like your show. >> thank you, david. thank you for calling in. >> caller: you frequently comment about m
what i tell you, that's the group you want, but you have to tax your tax professional about mlps and real estate investment trusts before you choose them otherwise go with the plain utilities and higher yielding telcos. beyond that, use the same metrics. looking for high yields. dividends has to be safe. the company better have enough earnings to cover the payout. we like companies with a consistent record of raising their dividends. that's great for capital gains that are tax-protected. the...
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Nov 21, 2012
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nicole: just thinking about a state tax. if you die better the next year, let's talk about scatter, popular footwear. the financial group raising their ratings on the issuemaker. they talked earlier that the stock was ahead of the fundamentals and they are changing their tune and that is why you are seeing the stock up 12% so they upgraded the positive from neutral, talking about momentum continuing to increase across their product categories heading into 2013. this is good news and they are beginning to see the modest outperforming in the current quarter and a good outlook for 2013. and an up arrow over $2 to the upside. cheryl: thank you very much. see you soon. a terror attack in israel. obama on a bus in tel of the. reports of the cease-fire may be imminent. first as we go to break with the world's currencies. the u.s. dollar. cheryl: breaking news. as the muddling fox news to expect israel to announce a unilateral cease-fire late tonight or early tomorrow. this from fox's lehman from southern israel. >> almost sounds li
nicole: just thinking about a state tax. if you die better the next year, let's talk about scatter, popular footwear. the financial group raising their ratings on the issuemaker. they talked earlier that the stock was ahead of the fundamentals and they are changing their tune and that is why you are seeing the stock up 12% so they upgraded the positive from neutral, talking about momentum continuing to increase across their product categories heading into 2013. this is good news and they are...
SFGTV: San Francisco Government Television
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Nov 21, 2012
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additional tax is one of the many results of the -- marriage act in congress. domestic partners are denied federal protection offered to other couples such as immigrant rights, social security survival benefits and ability to file joint tax returns. this additional tax on same sex domestic partners adds another sting to doma. these next few weeks will be significant forjíÑ the lgbt community and those who stand with them as the supreme court will decide whether to -- proposition 8 perry case and various doma cases however i don't believe we should stand still while this discrimination continues. i look forward to working with everyone on the board to the rest i submit. >> clerk calvillo: thank you. supervisor chu. >> supervisor chu: thank you very much. i have an empirrative item later on and i want to speak to it. it is a purely commendatory item. i am joined by supervisor elsbernd in sponsoring this. i simply want to recognize the grand reopening of the sunset rec center in my district located in the the heart of the sunset district and is actually our own
additional tax is one of the many results of the -- marriage act in congress. domestic partners are denied federal protection offered to other couples such as immigrant rights, social security survival benefits and ability to file joint tax returns. this additional tax on same sex domestic partners adds another sting to doma. these next few weeks will be significant forjíÑ the lgbt community and those who stand with them as the supreme court will decide whether to -- proposition 8 perry case...
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Nov 21, 2012
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>> you have to stop things like tax hikes. we start raising taxes reducing the amount of money that's going to the economy, it keeps companies trying to play and grow the business, making them think twice about this. if you want to start growing the economy, have to focus on the things that create employment. if you get a good summer back in the market spending money and creating in demand for businesses. and you have to clear the way regular tour lead from government to make it easier for companies to plan. and they cannot plan because of obamacare what will come from tax increases, they sit on cash and wait. david: what you're telling me is the next four years we will not have any growth. >> look, let's be clear about this, you are running a $1 trillion deficit right now. those basically show you that you are going to get you to run 2% growth rate economy for the next decade and that is not strong enough to create the kind of employment, growth and environment economically that she wants to see. you have not seen that since
>> you have to stop things like tax hikes. we start raising taxes reducing the amount of money that's going to the economy, it keeps companies trying to play and grow the business, making them think twice about this. if you want to start growing the economy, have to focus on the things that create employment. if you get a good summer back in the market spending money and creating in demand for businesses. and you have to clear the way regular tour lead from government to make it easier...
SFGTV2: San Francisco Government Television
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Nov 21, 2012
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we can talk about regulation and pension and taxes and the government. a lot of that is [inaudible] a survey said housing prices are too high and that is a negative factor on recruitment. i thought, maybe we can bring the prices down. foreclosure works magic. i do not think you want that. you want rising wealth which could translate into a rising houses -- housing prices. you can increase density and breakdown similar rules, you get more people. there's a lot of things. as i drove down here from oakland cut -- oakland, i saw those cars in the ordinary lanes. one person per car. you have this one person with all this steel and plastic and oil. it is ridiculous. we're figuring out ways to do that. whether it is high speed rail or electric cars. the first will be rolling off the factory in treatments in the next few months -- in three months and in the next few months. yes, the innovative companies are small. the electric cars -- the tanks are small but so is fairchild or in tal or hewlett-packard -- intel or hewlett-packard or steve jobs. the seats we plan
we can talk about regulation and pension and taxes and the government. a lot of that is [inaudible] a survey said housing prices are too high and that is a negative factor on recruitment. i thought, maybe we can bring the prices down. foreclosure works magic. i do not think you want that. you want rising wealth which could translate into a rising houses -- housing prices. you can increase density and breakdown similar rules, you get more people. there's a lot of things. as i drove down here...
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if you get rid of a tax loophole, that's raising taxes. he sent a letter to tom cobuln and said you can't do that because when you eliminate a tax loophole that's eliminating taxes and tom coburn sent a letter back sending him to pound sand and we need -- and i think representative ellison knows this better than i do. there are good republicans out there. >> no doubt. >> who i believe are not going to take the lead of this delaying and ofiscating leadership. you can name some of the house i'm sure, keith. so we've got to be willing to move this country ahead and know that that means entitlement cuts, spending cuts, and increasing revenues. >> they are not only good republicans, they are good politicians because when you look at grover's losers, candidates who sign, there's no type of pledge. so many lost. 24 republicans for the senate, 55 republicans for the house to sign that pledge lost. it doesn't even make good political sense anymore. >> you know, reverend, can i just add, i think when you call on members of congress to do right by th
if you get rid of a tax loophole, that's raising taxes. he sent a letter to tom cobuln and said you can't do that because when you eliminate a tax loophole that's eliminating taxes and tom coburn sent a letter back sending him to pound sand and we need -- and i think representative ellison knows this better than i do. there are good republicans out there. >> no doubt. >> who i believe are not going to take the lead of this delaying and ofiscating leadership. you can name some of the...
SFGTV2: San Francisco Government Television
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Nov 21, 2012
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this is tax incentives. you have to have tax liability. you have to pay taxes to make this thing valuable to you, but most people do. the law is written at 30% of the cost you can have a tax credit of 30%. let's talk about real numbers. what am i paying now and what am i going to be paying in the future? if i can make money today on my monthly payment and go green, why not? solar kind of reverses the effect. it's like tax brackets. the return on investment typically is higher if you got a big bill. there is also another thing about time of use rates. i want to go over it very briefly. it does have some effect and you will hear it about on your bid. the time of use rate is a way that you tilts are trying to help -- utilities are trying to manage their peak demand. you charge people more during peak periods. you make it up to them by charging the low market rate off peak. this is off peak and you'll be charged a very low rate for it. at shoulder peak you'll be charged more. at on peak, you'll be charged the most, another shoulder, another of
this is tax incentives. you have to have tax liability. you have to pay taxes to make this thing valuable to you, but most people do. the law is written at 30% of the cost you can have a tax credit of 30%. let's talk about real numbers. what am i paying now and what am i going to be paying in the future? if i can make money today on my monthly payment and go green, why not? solar kind of reverses the effect. it's like tax brackets. the return on investment typically is higher if you got a big...
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Nov 21, 2012
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happens to the dividend stocks, when taxes on dividends decrease. cheryl: we have seen it the day after the election there was a flight away from dividend paying stocks. is there a subgroup that you like that you would like to protect us? >> they're not a lot of places to hide because a lot of the return is driven by dividend paying stocks. i think the way to think about it is what happened the last time the rates went up by dividend stocks. it had been when president clinton came into office. what happened to the market over the next 10 years, returning 9.3% per year. the macro environment is much more important than the tax environment. when president bush lowered the tax rate in 2003 the annualized return for the next decade through yesterday, 6.3% per year. cheryl: 40% of returns aren't taxed, many are in it for the long haul going long-term. you have the income disparity. 250 and above, that does not mean everyone. >> that is a great point. they're not sensitive to race. the dividend stocks were sold down because of taxes, lot of people going t
happens to the dividend stocks, when taxes on dividends decrease. cheryl: we have seen it the day after the election there was a flight away from dividend paying stocks. is there a subgroup that you like that you would like to protect us? >> they're not a lot of places to hide because a lot of the return is driven by dividend paying stocks. i think the way to think about it is what happened the last time the rates went up by dividend stocks. it had been when president clinton came into...
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Nov 21, 2012
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, gas taxes and social security taxes and you go out and fund the taxes that you like. that's how the 99.2%, and there's something fundamentally flawed where the system in order to get elected the members of congress have to worry about the people lobbying them day in and day out because that's their principle source of funding and the interests they represent and the problem with super pacces this year is that they upped the ante, and it was not much and then it was millions. the virginia senate race this year was $80 million. 50 million or so from outside groups and the other 30 from inside. if you're a senator and have just been elected and heaven forbid you're up in two years, what are you thinking? >> you're thinking i don't have time to worry about deficit reduction and the fiscal cliff. i have to go to a fund-raiser. i have to raise tens of thousands of dollars every day to have enough money to compete with these super packs and it would be nice if i could find a billionaire that would help me with my own super pac and that means i have to be nice to billionaires
, gas taxes and social security taxes and you go out and fund the taxes that you like. that's how the 99.2%, and there's something fundamentally flawed where the system in order to get elected the members of congress have to worry about the people lobbying them day in and day out because that's their principle source of funding and the interests they represent and the problem with super pacces this year is that they upped the ante, and it was not much and then it was millions. the virginia...
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Nov 21, 2012
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worried about a possible increase in taxes. casino magnet steve wynn hinted higher taxes would force him to rethink the payouts. however, not much logic behind the hysteria according to analysts. "wall street journal" dumping stocks for the higher capital gains rates makes sense for most -- it beats paying higher taxes now. the longer you can keep uncle sam out of your pockets despite the alarm railed, about fourle four million out of about 114 million americans. everybody settle after the election. settle. i love this guy. extremely rich wall street ceo wants americans to work longer. ceo of goldman sachs says he believes the retirement age needs to be raised because in general entitlements have to be slowed down. he said you're going to have to do something to lower people's expectations. entitlements, what people think they're going to get because they're not going to get it. this is a guy who makes $450 million a year. so for him to work a couple of extra years, that's a little different than -- yeah. for starters, social s
worried about a possible increase in taxes. casino magnet steve wynn hinted higher taxes would force him to rethink the payouts. however, not much logic behind the hysteria according to analysts. "wall street journal" dumping stocks for the higher capital gains rates makes sense for most -- it beats paying higher taxes now. the longer you can keep uncle sam out of your pockets despite the alarm railed, about fourle four million out of about 114 million americans. everybody settle...